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    7240 Azure Dr Las Vegas, NV 89130

    For Lease
    $30 SF/Yr

    Las Vegas Retail Investment Opportunity

    Lot size:
    49,554 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    Tenaya Village, a Class A, 49,554 square foot retail center in Las Vegas, NV, presents a compelling investment opportunity. Built in 2005, this five-building, single-story property sits on a 6.29-acre lot at 7240 W Azure Dr, conveniently located at the intersection of Tenaya Way & Azure Drive within the Centennial Hills submarket. The property boasts a T-C zoning designation (City of Las Vegas) and features a diverse mix of tenants including Starbucks, Timbers Bar & Grill, Wing Stop, Frijoles & Frescas, and Capriotti's. The center benefits from strong surrounding demographics, with average annual incomes exceeding $112,000 within a three-mile radius. Its strategic location within the Town Center District and proximity to a new NDOT 215 Beltway interchange at Sky Pointe Drive ensures excellent accessibility and high visibility. This multi-tenant property offers a variety of spaces including shopping center, strip retail center, retail pad, retail center endcap, pad space, street-front pad, restaurant space, drive-thru options, and kitchen facilities equipped with grease traps and interceptors, making it ideal for QSR establishments. The property's APN is 125-27-113-007. This is a rare opportunity to acquire a well-established retail center in a thriving Las Vegas submarket.

    Property Features for 7240 Azure Dr

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    49,554 SF
    Class
    A
    Total Rate
    123885

    Building Details

    Year Built
    2005
    Buildings
    5
    Stories
    1

    Unit(s) available at that property

    Space
    7290 Bldg., #140 Endcap Pad Space
    Size
    1,380 SF
    Rate per SF
    $30
    Space
    7240 Bldg., #105 - Endcap Drive-Thru
    Size
    1,519 SF
    Rate per SF
    $42

    HighLights

    • 1,519 SF endcap space with drive‑thru and grease trap.
    • 1,380 SF endcap space available.
    • 49,554 SF strip retail center in desirable Centennial Hills.
    • Strong tenant mix including Starbucks, Timbers Bar & Grill, and others.
    • New NDOT 215 Beltway interchange at Sky Pointe Drive.
    • Tenant improvement allowance offered.
    Property Profile Location Intelligence

    Current Use by Public Records

    Namaste Las Vegas Gymnastics Center PHAMV Nail Bar Nail Salon Capriotti's Sandwich Shop Sandwich Shop Edward Jones - Financial ... Financial Consultant Lino's Pizza & Italian ... Italian Restaurant

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.25368224648
    Latitude
    36.274006456436

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    FAQs

    What type of property is this?
    Retail property - Las Vegas Retail Investment Opportunity
    Where is this retail property located?
    The property is located at 7240 Azure Dr Las Vegas, NV.
    What is the lease rate?
    The lease rate is $30-$42 SF/Yr.
    What are key features of this property?
    This property features: 1,519 SF endcap space with drive-thru and grease trap.; 1,380 SF endcap space available.; 49,554 SF strip retail center in desirable Centennial Hills.
    Request Owner's contact information
    7240 Azure Dr Las Vegas, NV 89130
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7240 Azure Dr Las Vegas, NV 89130
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